Have you built an emergency fund?

SUBMITTED BY PATRICK ZAMKIN

Many people make financial New Year’s resolutions, such as reducing their debts or contributing more to their retirement accounts — both of which are certainly worthy goals. But among those who planned to make a financial resolution for 2023, the primary reason was the desire to build an emergency savings fund, according to a December 2022 study by research firm Morning Consult.

Factors such as economic concerns and the sharp rise in inflation seem to be driving this greater interest in building an emergency fund. But it’s extremely valuable to maintain this type of fund in any economic environment. An emergency fund can help you prepare for a temporary job loss or early retirement, or pay for large home or auto repairs, sizable medical bills and other needs.

So, how much do you need to keep in an emergency fund? The answer depends on your stage of life. If you’re still working, you might want at least three to six months’ worth of living expenses in your emergency fund. If you’re already retired, however, you may need at least three months’ worth of expenses for emergencies, plus another 12 months’ worth of expenses, after accounting for your other sources of income, to cover your everyday spending needs.

And if you are retired, it’s especially important to maintain this larger emergency fund so you can avoid dipping into your investment portfolio to pay for any unforeseen costs and daily expenses. As you know, the financial markets can be volatile, so, if it’s possible, you’ll want to avoid having to sell investments when their prices may be down.

When building an emergency fund, where should you keep the money? You’ll need it to be accessible, so you’ll want it in a liquid investment vehicle. At the same time, you don’t want to take risks with this fund, so you’ll want to be confident that your principal will likely be preserved. Some possibilities might include shortterm certificates of deposit (CDs) or money market accounts. But wherever you put the money, keep it separate from your regular checking or savings account — it’s called an “emergency” fund for a reason, and you don’t want to mingle it with the accounts you use every day.

Given the high cost of living, it’s not always easy to sock away money for emergencies — and if you wait until all your bills are paid before addressing an emergency fund, you may only make very slow progress. One possible strategy is to pay yourself first, so to speak, by having some money automatically moved from your checking or savings account each month into your emergency fund. And whenever you get a financial windfall, such as a tax refund or a year-end bonus at work, you might use some of it for this fund. It will take time and discipline to build and maintain an emergency fund. But once you’ve got such a fund in place, you’ll feel more confident in your ability to deal with unexpected costs that could potentially disrupt your progress toward your financial goals. So, make it a priority this year to build or strengthen your emergency fund. It will be worth the effort.

This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Patrick Zamkin, located at 18735 Dixie Hwy, Homewood, IL 60430. Contact us at (708) 798-9066. Edward Jones. Member SIPC.

Real Estate Specialists

Real Estate Questions & Answers

CATHY & JIM HIGGINS financing already in place.

Question: We are thinking about buying a new home. What are the first steps?

Answer: You might think that finding a realtor or figuring out what type of house you should buy would be your first step, but looking into home mortgages is actually the best place to begin the home buying process.

A multitude of auction items will be up for grabs including past favorites and new options. Several popular items include baskets containing alcohol and home items, BNI experiences such as preferred seating at graduation and choose-yourown locker and more.

All auction items will be listed online and bids will be placed online whether attending in person or virtually. In-person attendees must be 21 or older. Tickets cost $50 per person if purchased before April 17, 2023. Tickets purchased after will cost $60 per person.

Shop smartly and seek out the best rates. When shopping around for a mortgage, do it all in the same week. It will only ding your credit once, instead of every time! And, if you want to get the best deals for whichever loan product you choose, use a broker instead of a bank. Brokers, however, are independent owners who have access to wholesale interest rates and many different investors. They have the ability to ‘shop’ for the best deal for you through many different avenues, which could lead to significant savings.

Get prequalified, or even better, get preapproved—which one step beyond getting pre-qualified—is a good idea. With new technology, it‘s easier than ever before to request both pre-qualification (an estimate of what you can afford) and pre-approval (you’re approved for a specific loan amount pending finding a property). Pre-approval is a smart way to get a head start and be a more appealing buyer, by showing them you have

Find a Realtor (like us) with Integrity, proactive communication, attention to detail and experience with problem solving abilities. You will be given homes that match your specifications and would receive notices of any NEW homes that come on the market. You would only be given homes that match what you are looking for in terms of price, location and amenities. And, all of your questions would be answered.

When buying a home, it is important to understand how your day-to-day routine will change. For example, consider how buying a new house affects the distance and cost of your commute, for example. If you are moving further from work, family and friends, you’ll need to adjust your monthly budget to cover those expenses—and carve out more time travel, too.

E-mail us your Real Estate questions at Cathyah@aol.com. Thinking of selling your home? Call Cathy & Jim Higgins, Licensed Broker/Realtors in Indiana & Illinois. IN: 219-865-4361 IL: 708-828-3304. McColly Real Estate. Website: www.Cathyhiggins. com. Personal Real Estate Journal: www. Higginshousechat.blogspot.com

Services

AC/HEATING

SERVICES: Summer Special! Furnaces or A/C’s , Clean & check $59.95. Furnaces, A/C’s, Boilers, water heaters, sump pumps, humidifiers, installations, repairs, furnaces installed from $1495.00 R/D Heating & Cooling. IL. and IN. 219-616-3281

ARE YOU BUYING OR SELLING PROPERTY? WE SPECIALIZE IN DELIVERING RESULTS.

BRUCE MCKINNEY

Call, send a text message, or an emailCell: 708-269-2992, email: bruce@ familypriderealty.comFamily Pride Realty, 3337 W. 95th St., Evergreen Park, IL. 60805

OVERNIGHT OFFICE CLEANING AVAILABLE. South Holland Area. Call Randy 708-552-1839

HANDY MAN SERVICE Lenord Wilks - Call 1-773-897-9464

LIGHT BULB SERVICE

Will replace your burnt out and broken bulbs - Interior/ Exterior. Also replace Smoke and CO2 Detector Batteries. 219-865-2345

ALL HANDYMAN

REPAIRS Done On The Side to save money! Painting, drywall, tile, concrete patching, doors, roofing, hauling. Very reasonable.

Mark 708-408-7192

CONCRETE & PATCHING

Done On The Side to save you money. Also general contracting, handyman work, FHA work & snowplowing. Very reasonable. Call Mark 708-408-7192

PAINTING SERVICES:

Economy Painting. Interior/ Exterior painting 20% Off. Mention this ad. Walpaper instllation. General dywall repair & installation. Best price guaranteed. Ask for Ed. 708-548-6356 or 708-2885038.

ADG HANDYMAN

Cleaned gutters and repairs, installing new gutters, protectors/cover caps. Never clean gutters again! Unclogging all pipes large and small. 312-8356645/708-250-4752 gholston859@gmail.com

PLUMBING SERVICES:

J.E.M. Plumbing & Sewer , Drain Cleaning Specialist, water lines, pumps, water heater, faucets, toilets, same day service. 219-845-7589 or 708-896-0500

GUTTER CLEANING:

SUPER FLOW Gutter cleaning, Free estimates. Very reasonable. Asl for Rob. No Sundays. 708-877-6860

HOME IMPROVEMENT:

A&A Services services faucets, carpentry locks, fence and gate repair, gutter cleaning, power washing, toilet repairs, wind damage repairs, caulking, rooftop repair. Insured. Free estimates. 219-865-2345

TREE SERVICE: Maggy’s Tree Service. Tree’s Topped, Trimmed, Removed, Bush Removal, Stump Removal. Walks shoveled. Also Insured Bonded. Free estimates. 708-200-8078

PAINTS OF AMERICA interior and exterior painting, plus carpet cleaning and gutter cleaning. Senior discounts. Call Algie at 708-574-6367

HARP-WILL CLEANING INC. has several openings for experienced, dependable Home/Office Cleaners with a track record of excellent service. We offer competitive pay. Contact us at info@ harpwillcleaning.com or 708-855-4294.

GUTTER CLEANING. Just a friendly reminder that your gutters need cleaning. Also, for a limited time, we offer a Free Rooftop Inspection at no extra charge. Call today for your free quote 219-8652345

SHELTON’S FIREARM AND SELF DEFENSE LLC www. sheltonsfirearmsandself defense.com Don’t be a Victim, Book A Class Today! “Shelton’s Firearm and Self Defense Training LLC” 708-502-3718

TRIPLE E LAWNCARE Full Service weekly lawn care. Power Raking, Aeration, Fertilization, Bush Trimming/ Removal/ Planting. Erik of Lansing 708-858-1213

DAILY MOVERS 20 miles one way $325-$425 Special 708-940-1378

CORONADO HOME IMPROVEMENTS. Providing home improvement services such as drywall repairs, painting, floor installations, plumbing and electrical services. For free estimates call (219) 902 1017

Wanted

WANTED RADIO/TV

TUBES CB/HAM RADIOS TUBE TESTERS 70S HIGH POWER STEREOS misc test equipment Tube type stereos old radios no tvs 708 536 8823

WANTED DEGAN OR MUSSER VIBRAPHONE CALL 219-801-0955

IN DESPARATE NEED SMALL CAR FOR 80 YEAR

OLD - ECONOMICAL CAR CAN BE DAMAGED IF RUNNING FOR LOW INCOME SR. CITIZ. Does not have to pass emission test if the price is right - Call 219-801-0955

WANTED: 1972 & OLDER CARS & TRUCKS, PARTS, RUNNING OR NOT (and parts) unfinished project and 67-69 Camaros. 708-4399770

WANTED - GARAGE TO STORE MY OLD DODGE CAR. Could use 1 or 2 Stall Garage. Prefer the Lansing area. Call James between 9am and 9pm, 708-460-8308

SOMEONE TO REPAIR A GAS LAWN MOWER. Call or text 708-673-9361

WANT TO BUY A USED 2-CAR (NON-WOOD) GARAGE DOOR. 708.925.2102

IN SEARCH OF OLDER COBRA CB RADIO BASE STATIONS & ACCESSORIES let me know what you have.

Dan 312-720-0844HOUSE PHONE, CORDLESS, CALLER ID. Ask for Martha 708-849-4690

US SOLDIER IS DESPERATE IN NEED of a 3 bed house, to rent or rent to buy. Currently paying $2000/mo at Hotel and $209 for storage. Have fixed income of $4000/mo Plus. Call Algie 708.574.6367

SENIOR LOOKING TO RENT 2 OR 3 BEDROOM HOUSE WITH GARAGE. Have Sect. 8, also have 24hr caregiver. Looking in Lansing, Calumet City, South Holland, or Thornton ASAP. Call 708-200-8473. Ask for Carol

WANTED: Electric chainsaws and as many chains as you have. Exterior Brown Paint. 219-801-0955

WANTED: Old Deagan or Musser big bar vibraphones. Any Condition 219-801-0955

Vehicles

2016 FORD F56 STEPUP VAN, RUNS GREAT AND IN GREAT CONDITION!

V10 Propane fueled. Excellent delivery van or convert to a food truck. $28,000 OBO Call 773-9084704 ask for Buddy.

For Sale

MINT CHINA / TROPHY / COLLECTOR WOOD GLASS DOOR CABINET WITH BOTTOM DRAWERS MINT CONDITION PAID OVER $1000 SELL FOR $350 WOOD. DINING TABLE SITS 8 WITH HIGH BACK WOOD CHAIRS PAID OVER $1000 SELL FOR $350. ENTIRE CONTENTS OF HOME $1700. Parents estate....... Call (219) 746 2370 ..... Lansing IL MORE GREAT DEALS!

Mattresses: twin $88, full $98, queen $138. Bunk beds, futons, day beds $178. 5 pc dinette $179. Sofa LV $495. 4 pc. bdrm $495. Lamps, rugs & more. EZ credit $7,000, 90 days same as cash. or 12mo Installment plan. Free layaway. 708-371-3737 www. factorybeddingfurniture.com

ATTENTION LANDLORDS AND TENANTS BARELY USED CARPET AND PADDING EXCELLENT QUALITY varies sizes colors and grades. Vinyl flooring excellent paint interior and exterior 708-596-0255

GE DOUBLE OVEN STAINLESS STEEL $1100 OBO in great condition self cleaning, whilpool dish washer stainless steal$350 obo , black electric top stove top $300 obo stainless steel deep double sink $85 708-536-3228

Garage Sale

Indoor and outdoor sale. Lots of furniture, kitchenware, decorations, vintage stove and refrig, lawn furniture, ladder, tools, lawnmower, generator, etc. Saturday March 18 10-4. 50% off items after 3. Cash, Venmo, Zelle. 16329 Drexel.

SMALLER TWO BEDROOM HOME. South Holland. $950 plus security. Redone, appliances, large living room, quiet area, big deck with nature views. Application fee. Outside parking. 708-268-7075

HARVEY 2 Bds 2nd floor, 1 bath, A/C, Appl included, 1 month rent, 1 month security, no pets. 708-362-7887, 708-527-4477

LARGE, NEWLY DECORATED 3 BEDROOM Apt, 2 baths in Calumet City. Sec 8 welcomed. 219-2139556

SOUTH HOLLAND HOME. 1 ROOM FOR RENT, FEMALE SENIORS WELCOME. Utilities Included, Refrigerator and Microwave Included. No Section 8 or Smokers, or Pets. 708-566-1103 Call Linda.

Help Wanted

PART TIME: GENERAL LABORER Cash daily. Hammond / South Holland area. Transportation provided. Inside working conditions with one other person. Call 8-10 a.m. 708-799-2363

LICENSED CHILD CARE HOME IN HAMMOND INDIANA LOOKING FOR HELPER . 9:30 a m to 6:30 pm. Monday Through Friday, $13 hour. 219-588-1763

Health/Personals

If you or a loved one were diagnosed with OVARIAN cancer after use of TALC products such as BABY POWDER or SHOWER TO SHOWER, you may be entitled to compensation. Contact Charles H. Johnson 1-800-535-5727

Misc.

2 Eddie Bauer Feather Mattresses (Twins) $35 each 708-481-6907

Surefit sofa covers, $25, loveseat covers, $20, large chair covers, $15. 708-4816907

Full size futon mattress cover, new, $20. 708-481-6907

Duvet covers, asst sizes, $7 - $15ea. 708-481-6907

Bed spreads, blankets, quilts, comforters, sizes from twin to king, $15 - $30ea. Pillows, $5 - $10ea. Decorative throw pillows, $5 - $10ea. 708-4816907

Bed sheets: Twin size, $2ea. Full size $3ea. Queen size, $4ea. King size, $5ea. 708-481-6907

Patio Set, round table, mini tile design,color stone with 4 matching swiffel chairs,in good condition $ 150.00 Weber natural Gas Grill, 4 yrs old, $ 110.00; 2 women bicycles, each $30.00 phone: 219-629-1169 Free sofa and rocker/recliner. Brown suede. 17 years old. Sofa is in excellent condition, recliner is slightly stained. Pick it up yourself or you. Can pay us $50 to deliver it. 708-474-4450. Lansing

Timeshare Cancellation if

877-326-1608

Real Estate

APARTMENT FOR RENT

THORNTON - NEAR

SHOPPING, SECOND FLOOR SPACE, new fridge new new bath and carpets call for appointment 708-462-7028